MS SB2100

Authorizes an income tax credit equal to 50% of the cost of qualified alternative fuel motor vehicle property or $5,000 per vehicle, whichever is less.

Applies to costs of purchasing motor vehicles that use compressed natural gas, liquefied natural gas, propane, or hydrogen fuel cells, and to costs of converting existing vehicles to use these fuels.

Allows unused tax credits to be carried forward for 10 consecutive tax years from the close of the tax year in which the credit was earned.

Requires taxpayers to provide proof of qualification including vehicle registration in Mississippi, date placed into service, and documentation of purchase or installation costs.

Excludes not-for-profit entities from eligibility and limits the credit to one per alternative fuel motor vehicle per taxable year; effective January 1, 2015.